At the start of last week, the major indexes continued lower on
Monday making new short term pullback lows (following increased
tariff talk). After reaching oversold readings on Monday, the
market managed to stage a three day rally with prices peaking out
mid-day on Thursday before giving up some gains into the close on
Friday. Thus far, the bounce on the major indices has been a
normal corrective advance that has failed near at 50-618% Fib
retrace as we have outlined on the 60 minute charts. As you
know, we are currently mapping this advance as a wave B bounce
following the clean symmetry break on the previous decline.
Unless the SPX can hold and impulse higher, we expect price
to come back down and at least retest the 2800 area if not zig zag
lower. For the bulls, we would need to see price hold above
2853 early next week and rally up to new bounce highs. As
always, continue to trade what's in front of you and respect your
triggers.
VSLR Daily View
Posted by steve on 19th of May 2019 at 07:40 pm
VSLR - Chart Link
Weekend Newsletter At the start of
Posted by steve on 19th of May 2019 at 01:19 pm
Weekend Newsletter
At the start of last week, the major indexes continued lower on Monday making new short term pullback lows (following increased tariff talk). After reaching oversold readings on Monday, the market managed to stage a three day rally with prices peaking out mid-day on Thursday before giving up some gains into the close on Friday. Thus far, the bounce on the major indices has been a normal corrective advance that has failed near at 50-618% Fib retrace as we have outlined on the 60 minute charts. As you know, we are currently mapping this advance as a wave B bounce following the clean symmetry break on the previous decline. Unless the SPX can hold and impulse higher, we expect price to come back down and at least retest the 2800 area if not zig zag lower. For the bulls, we would need to see price hold above 2853 early next week and rally up to new bounce highs. As always, continue to trade what's in front of you and respect your triggers.
Enjoy the balance of your weekend,
Steve
Correct
Quick Look at Australia and Canada
Posted by steve on 19th of May 2019 at 11:43 am
Correct
SPX 60 Updated Mapping View
Posted by steve on 18th of May 2019 at 11:58 am
$SPX - Chart Link - see comments on chart. Bulls would need to hold above 2853 and rally to new highs for an impulse to negate the current view.
Quick Glance at few Asian Indexes
Posted by steve on 18th of May 2019 at 11:18 am
$SSEC - Chart Link
$HSI - Chart Link
$NIKK - Chart Link
Quick Look at Australia and Canada
Posted by steve on 18th of May 2019 at 11:15 am
$AORD - Chart Link
$TSX - Chart Link
Some European Index Charts
Posted by steve on 18th of May 2019 at 11:13 am
EZU - Chart Link
EWU - Chart Link
EWG - Chart Link
$CAC - Chart Link
'US, China trade talks have
Posted by steve on 17th of May 2019 at 03:05 pm
'US, China trade talks have stalled: Sources' -CNBC
JO - is like Maxwell
JO - needs some caffeine
Posted by steve on 17th of May 2019 at 02:40 pm
JO - is like Maxwell House "Good to the Last Drop"
Short EOG Updated View
Posted by steve on 17th of May 2019 at 12:24 pm
EOG - Chart Link
ARWR Updated View
Posted by steve on 17th of May 2019 at 11:17 am
ARWR - Chart Link - moved up to initial target (resistance area)
Good Reason to Buy the Dip Early This Morning
Posted by steve on 17th of May 2019 at 11:00 am
Gartman: "We Make An Official Recommendation To Sell Stocks Short This Morning" (at the open)
ADVM Updated View
Posted by steve on 17th of May 2019 at 10:37 am
ADVM - Chart Link - nice move
TSLA Updated View
Posted by steve on 17th of May 2019 at 10:09 am
TSLA - Chart Link - still in need of a charging station
ES Overnight Range 2854.50-2882.50
Posted by steve on 17th of May 2019 at 08:26 am
ES Overnight Range 2854.50-2882.50
The (1) shown on your
This would be my preferred Elliott Wave count on gold. ...
Posted by steve on 17th of May 2019 at 08:05 am
The (1) shown on your chart is definitely not an impulse with wave 4 overlapping wave 1. Back to the drawing board.
Thursday Newsletter
Posted by steve on 16th of May 2019 at 06:34 pm
Thursday Newsletter
Nice Matt - maybe Coffee
DBA follow up
Posted by steve on 16th of May 2019 at 04:14 pm
Nice Matt - maybe Coffee can catch a bounce this year
AAII Survey
Posted by steve on 16th of May 2019 at 03:19 pm
https://www.aaii.com/sentimentsurvey- big swing from last week (provided fuel for the recent rally)
AAPL Daily View
Posted by steve on 16th of May 2019 at 03:10 pm
AAPL - Chart Link - not making much headway on this recent market rally